eBay has rejected a reported $5.6 billion takeover proposal from GameStop, describing the offer as “neither credible nor attractive,” according to reports published on May 12.
The proposal, which would have seen the video game retailer attempt to acquire the e-commerce giant, was reportedly dismissed by eBay’s board over concerns about financing, valuation and the strategic logic behind the deal. Sources familiar with the matter said company executives did not consider the bid serious enough to pursue further negotiations.
GameStop has remained a closely watched company since becoming central to the 2021 meme-stock trading frenzy that drew global attention to retail investors and online trading communities. The company has since explored new business strategies as it attempts to stabilise revenue in a changing gaming market.
Analysts noted that a takeover of eBay would have represented a dramatic shift in GameStop’s direction and raised questions about how the company planned to finance such a large acquisition. Neither company has publicly announced any active negotiations following the rejection.
